Expressing the sense of the House of Representatives that a portion of Iraq's oil wealth should be used to pay the costs of the allied military operations against Iraq, to indemnify noncombatant nations and individuals that suffered losses as a result of the conflict, and to pay the environmental clean-up costs associated with the conflict.

Urges the President, in planning and negotiating Iraq's post-war settlements with the United States and its allies, to insist that an appropriate portion of Iraq's oil wealth be used to: (1) indemnify the United States and its allies for the costs of the military conflict; (2) indemnify noncombatant nations and individuals for losses suffered as a result of the acts of war committed by Iraq or as a result of necessary actions taken by allied forces in defeating Iraqi aggression; and (3) provide an ongoing fund to pay for the cleanup of environmental degradation in the Arabian Gulf caused by the conflict.